TransAlta (NYSE:TAC) Upgraded to “Buy” at StockNews.com

TransAlta (NYSE:TAC) (TSE:TA) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other equities research analysts also recently commented on the stock. Desjardins restated a “hold” rating on shares of TransAlta in a research report on Wednesday, November 6th. CIBC downgraded TransAlta from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, January 8th. Scotiabank downgraded TransAlta from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, January 23rd. Finally, Cibc World Mkts lowered TransAlta from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

TransAlta Stock Performance

Shares of TAC stock opened at $11.56 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94. TransAlta has a 52 week low of $5.94 and a 52 week high of $14.64. The business has a 50 day moving average of $13.04 and a two-hundred day moving average of $10.58. The company has a market cap of $3.44 billion, a P/E ratio of 31.24 and a beta of 0.84.

Institutional Investors Weigh In On TransAlta

Several institutional investors have recently modified their holdings of TAC. Financial Management Professionals Inc. acquired a new position in shares of TransAlta in the 3rd quarter valued at $42,000. Tobam bought a new position in shares of TransAlta during the 4th quarter valued at about $46,000. Quantbot Technologies LP acquired a new position in shares of TransAlta in the 3rd quarter valued at approximately $61,000. Entropy Technologies LP bought a new stake in TransAlta during the 3rd quarter worth approximately $130,000. Finally, Ballentine Partners LLC acquired a new stake in TransAlta during the 4th quarter worth approximately $145,000. Institutional investors and hedge funds own 59.00% of the company’s stock.

About TransAlta

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.